UNEEQO (UNEQ) 10-Q 2 Mar 20 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	Mar. 01, 2020
Document And Entity Information
Entity Registrant Name	UNEEQO, INC.
Entity Central Index Key	0001572317
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		113,750,000
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2017
Entity File Number	000-1572317
Entity Incorporation, State or Country Code	NV
Entity Interactive Data Current	No
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	true

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Current Assets
Cash and cash equivalents	$ 31,399	$ 100
Prepaid expenses	1,500	0
Total Current Assets	32,899	100
TOTAL ASSETS	32,899	100
Current Liabilities
Accounts payable and accrued liabilities	171,224	39,022
Accounts payable to related party	0	29,180
Note payable	206,900	110,000
Due to related party	42	0
Total Current Liabilities	378,166	178,202
TOTAL LIABILITIES	378,166	178,202
COMMITMENTS AND CONTINGENCIES
Stockholders' Deficit
Common stock: 150,000,000 authorized; $0.001 par value 113,750,000 shares and 112,750,000 issued and outstanding, respectively	113,750	112,750
Additional paid-in capital	217,616	146,301
Subscription receivable	(36,807)	(36,807)
Accumulated other comprehensive income	(410)	0
Accumulated deficit	(639,416)	(400,346)
Total Stockholders' Deficit	(345,267)	(178,102)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 32,899	$ 100

Balance Sheets (Unaudited) (Par

Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Jun. 30, 2016
Statement of Financial Position [Abstract]
Common stock, par value	$ .001	$ 0.001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	113,750,000	112,750,000
Common stock, shares outstanding	113,750,000	112,750,000

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
OPERATING EXPENSES
General and administrative	$ 1,959	$ 8,249	$ 9,719	$ 61,029
Professional fees	10,567	10,500	31,769	42,000
Research and development	56,639	0	186,162	0
Gain (loss) on settlement of accounts payable	0	(12,500)	0	(12,500)
Total Operating Expenses	69,165	6,249	227,650	90,529
Net loss from operations	(69,165)	(6,249)	(227,650)	(90,529)
Other Expense
Interest Expense	(4,340)	(1,758)	(11,379)	(3,747)
Total other expense	(4,340)	(1,758)	(11,379)	(3,747)
Provision for Income Taxes	0	0	0	0
Net loss	(73,505)	(8,007)	(239,029)	(94,276)
Other comprehensive income	(1,118)	0	(451)	0
Comprehensive loss	$ (74,623)	$ (8,007)	$ (239,480)	$ (94,276)
Basic and dilutive loss per common share	$ 0	$ 0	$ 0	$ 0
Weighted average number of shares outstanding	113,094,444	112,750,000	112,863,139	112,750,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (239,029)	$ (94,276)
Adjustments to reconcile net loss to net cash used in operating activities:
Gain in settlement of accounts payable	0	(12,500)
Changes in operating assets and liabilities:
Prepaid expenses	(1,500)	3,390
Accounts payable and accrued liabilities	132,202	33,218
Accounts payable related party	0	10,200
Due to related party	(6,823)	0
Net cash used in operating activities	(115,150)	(59,968)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from note payable	96,900	85,000
Proceeds from sale of common stock	50,000	0
Net cash provided by financing activities	146,900	85,000
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(451)	0
Net increase in cash and cash equivalents	31,299	25,032
Cash and cash equivalents, beginning of period	100	0
Cash and cash equivalents, end of period	31,399	25,032
Supplemental cash flow information
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Non Cash Transactions:
Related party debt forgiven	$ 22,315	$ 0

1. Basis of Presentation

1. Basis of Presentation	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	NOTE 1 – BASIS OF PRESENTATION The accompanying consolidated financial statements have been prepared by management, in accordance with generally accepted accounting principles in the United States (“GAAP”), without audit by an independent registered public accounting firm. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included.

2. Going Concern

2. Going Concern	9 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern	NOTE 2 – GOING CONCERN The accompanying unaudited interim financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business. As of March 31, 2017, the Company has an accumulated deficit and has earned no revenues during the nine months ended March 31, 2017. The ability of the Company to obtain profitability is dependent upon, among other things, obtaining additional financing to continue operations, and development of its business plan. In response to these problems, management intends to raise additional operating funds through equity and/or debt offerings. However, there can be no assurance management will be successful in its endeavors. There are no assurances that the Company will be able to either (1) achieve a level of revenues adequate to generate sufficient cash flow from operations; or (2) obtain additional financing through either private placement, public offerings and/or bank financing necessary to support its working capital requirements. To the extent that funds generated from operations and any private placements, public offerings and/or bank financing are insufficient, the Company will have to raise additional working capital. No assurance can be given that additional financing will be available, or if available, will be on terms acceptable to the Company. If adequate working capital is not available to the Company, it may be required to curtail or cease its operations. These factors, among others, raise substantial doubt about the Company's ability to continue as a going concern. The accompanying financial statements do not include any adjustments that might result from the outcome of this uncertainty.

3. Related Party Transactions

3. Related Party Transactions	9 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 3 – RELATED PARTY TRANSACTIONS During the nine months ended March 31, 2017, total expenses paid directly by our current CEO on behalf of the Company were $41. As of March 31, 2017 and June 30, 2016, the amount owed to the CEO was $41 and $0, respectively. The amount is unsecured, non-interest bearing, and due on demand. As of March 31, 2017 and June 30, 2016, our former President and CEO was owed $0 and $29,180, respectively, for consulting services provided to the Company. On April 6, 2016, Matthew E. Killeen resigned from the Board and as the Company’s President, Chief Executive Officer, Secretary and Treasurer, effective immediately. Mr. Killen had been serving as the President, Chief Executive Officer, Secretary and Treasurer of the Company since June 18, 2014. During the nine months ended March 31, 2017, the Company repaid $6,824 and $22,315 was forgiven. As a result, the Company recorded debt forgiven of $22,315 as additional paid in capital.

4. Notes Payable

4. Notes Payable	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Notes Payable	NOTE 4 – NOTES PAYABLE The Company had the following notes payable outstanding as of March 31, 2017 and June 30, 2016: March 31, June 30, 2017 2016 Dated – November 14, 2014 $ 15,000  $ 15,000 Dated – September 1, 2015 15,000 15,000 Dated – November 10, 2015 15,000 15,000 Dated – March 2, 2016 30,000 30,000 Dated – March 30, 2016 25,000 25,000 Dated – May 20, 2016 10,000 10,000 Dated – July 18, 2016 6,900 – Dated – September 8, 2016 65,000 – Total notes payable $ 181,900 $ 110,000 The Company recognized interest expenses of $2,828 and $95 for the nine months ended March 31, 2017 and 2016. On November 14, 2014, the Company entered into a promissory note in the amount of $15,000. The note is unsecured, due on May 14, 2015 and is non interesting bearing. As of March 31, 2017, the note was past due and due on demand and the outstanding principal balance was $15,000. On September 1, 2015, the Company issued a promissory note in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. As of March 31, 2017, the note was past due and currently in default, and the outstanding principal balance was $15,000. On November 10, 2015, the Company issued a promissory note in the principal amount of $15,000, bearing interest at the rate of 8% per annum and maturing on the first anniversary of the date of issuance. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. The note is currently in default, and the outstanding principal balance was $15,000. On March 2, 2016, the Company entered into a promissory note in the amount of $30,000. The note is unsecured, due on March 2, 2017 and bears interest at a rate of 8% per annum. The Company may prepay any or all of the outstanding principal of the promissory note at any time without penalty and shall be accompanied by payment of the accrued interest on the amount prepaid. The promissory note automatically becomes due upon an event of default, including breach, default, bankruptcy and sale. The note is currently in default, and the outstanding principal balance was $30,000. On March 30, 2016 the Company received $25,000. On April 6, 2016, the Company formalized the loan and entered into a promissory note in the amount of $25,000. The note is unsecured, due on April 6, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2017 and June 30, 2016, the outstanding principal balance was $25,000 and $25,000, respectively. The note is currently in default. On May 20, 2016, the Company entered into a promissory note in the amount of $10,000. The note is unsecured, due on May 20, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2017 and June 30, 2016 the outstanding principal balance was $10,000 and $10,000, respectively. The note is currently in default. On July 18, 2016, the Company entered into a promissory note in the amount of $6,900. The note is unsecured, due on July 18, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2017, the outstanding principal balance was $6,900. The note is currently in default. On September 8, 2016, the Company entered into a promissory note in the amount of $65,000. The note is unsecured, due on September 8, 2017 and bears interest at a rate of 8% per annum. As of March 31, 2017, the outstanding principal balance was $65,000. The note is currently in default.

5. Gain on Settlement of Accoun

5. Gain on Settlement of Accounts Payable	9 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Gain on Settlement of Accounts Payable	NOTE 5 – GAIN ON SETTLEMENT OF ACCOUNTS PAYABLE During the nine months ended March 31, 2017 a professional forgave fees of $12,500.

6. Subsequent Events

6. Subsequent Events	9 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	NOTE 6 – SUBSEQUENT EVENTS As of March 31, 2017 and June 30, 2016, our President and CEO was owed $37,980 and $27,780, respectively, for consulting services provided to the Company. On April 6, 2016, Matthew E. Killeen resigned from the Board and as the Company’s President, Chief Executive Officer, Secretary and Treasurer, effective immediately. Mr. Killen had been serving as the President, Chief Executive Officer, Secretary and Treasurer of the Company since June 18, 2014. The Company agreed to pay Mr. Killeen $16,365 in settlement of all amounts owed to him. As of May 18, 2016 the Company has paid him $8,500. On May 20, 2016, the Company entered into a promissory note in the amount of $10,000. The note is unsecured, due on May 20, 2017 and bears interest at a rate of 8% per annum.

4. Notes Payable (Tables)

4. Notes Payable (Tables)	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Notes Payable Outstanding	March 31, June 30, 2017 2016 Dated – November 14, 2014 $ 15,000  $ 15,000 Dated – September 1, 2015 15,000 15,000 Dated – November 10, 2015 15,000 15,000 Dated – March 2, 2016 30,000 30,000 Dated – March 30, 2016 25,000 25,000 Dated – May 20, 2016 10,000 10,000 Dated – July 18, 2016 6,900 – Dated – September 8, 2016 65,000 – Total notes payable $ 181,900 $ 110,000

2. Going Concern (Details Narra

2. Going Concern (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ (639,416)	$ (400,346)
Revenues	$ 0

3. Related Party Transactions (

3. Related Party Transactions (Details Narrative) - USD ($)	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
CEO [Member]
Proceeds fom related party	$ 41
Amount owed to officers	41	$ 0
Former President and CEO [Member]
Amount owed to officers	0	$ 29,180
Mr. Killeen [Member]
Debt forgiven	22,315
Debt forgiven recorded as additional paid in capital	$ 22,315

4. Notes Payable (Details)

4. Notes Payable (Details) - USD ($)	Mar. 31, 2017	Jun. 30, 2016
Note payable	$ 181,900	$ 110,000
Note1 [Member]
Note payable	15,000	15,000
Note2 [Member]
Note payable	15,000	15,000
Note3 [Member]
Note payable	15,000	15,000
Note4 [Member]
Note payable	30,000	30,000
Note5 [Member]
Note payable	25,000	25,000
Note6 [Member]
Note payable	10,000	10,000
Note7 [Member]
Note payable	6,900	0
Note8 [Member]
Note payable	$ 65,000	$ 0

4. Notes Payable (Details Narra

4. Notes Payable (Details Narrative) - USD ($)	1 Months Ended	2 Months Ended		4 Months Ended		8 Months Ended	9 Months Ended			11 Months Ended
	Jul. 18, 2016	Sep. 08, 2016	Sep. 01, 2015	Nov. 10, 2015	Nov. 14, 2014	Mar. 02, 2016	Mar. 31, 2017	Mar. 31, 2016	Mar. 30, 2016	May 20, 2016	Jun. 30, 2016
Interest Expense							$ 2,828	$ 95
Note1 [Member]
Promissory note maturity date					May 14, 2015
Promissory note principal, amount					$ 15,000
Notes payable outstanding							15,000
Note2 [Member]
Promissory note maturity date			Sep. 1, 2016
Promissory note principal, amount			$ 15,000
Percentage of promissory note interest per annum			8.00%
Notes payable outstanding							15,000
Note3 [Member]
Promissory note maturity date				Nov. 10, 2016
Promissory note principal, amount				$ 15,000
Percentage of promissory note interest per annum				8.00%
Notes payable outstanding							15,000
Note4 [Member]
Promissory note maturity date						Mar. 2, 2017
Promissory note principal, amount						$ 30,000
Percentage of promissory note interest per annum						8.00%
Notes payable outstanding							30,000
Note5 [Member]
Promissory note maturity date									Apr. 6, 2017
Promissory note principal, amount									$ 25,000
Percentage of promissory note interest per annum									8.00%
Notes payable outstanding							25,000				$ 25,000
Note6 [Member]
Promissory note maturity date										May 20, 2017
Promissory note principal, amount										$ 10,000
Percentage of promissory note interest per annum										8.00%
Notes payable outstanding							10,000				$ 10,000
Note7 [Member]
Promissory note maturity date	Jul. 18, 2017
Promissory note principal, amount	$ 6,900
Percentage of promissory note interest per annum	8.00%
Notes payable outstanding							6,900
Note8 [Member]
Promissory note maturity date		Sep. 8, 2017
Promissory note principal, amount		$ 65,000
Percentage of promissory note interest per annum		8.00%
Notes payable outstanding							$ 65,000

5. Gain on Settlement of Acco_2

5. Gain on Settlement of Accounts Payable (Details Narrative)	9 Months Ended
	Mar. 31, 2017USD ($)
A Professional [Member]
Debt forgiven	$ 12,500